Thursday, July 09, 2009

Thursday Is New Jobless Day

And while a plunge in new claims is of course a good thing, this is still a really really awful number.

New claims for unemployment insurance plummeted by 52,000 to 565,000, the Labor Department said Thursday. That's significantly below analysts' expectations of 605,000, according to Thomson Reuters. The last time new claims were below 600,000 was week of Jan. 24.

Unemployment and net job losses will continue to increase...